The Opportunity

Palo Alto Technology Center is a 259, 157-square-foot, 10-building office/R&D business park located in Palo Alto, Calif., the heart of the Silicon Valley. The multi-tenant property sits on an 18-acre site in the Palo Alto market. At the time of purchase, the property was dated and did not reflect the quality or appeal for a Palo Alto address.

Solution

In 2011, the team proposed a $2MM modernization plan and upgraded the building exterior, rebranded the property as Palo Alto Tech Center. Completed several market ready suites and launched an aggressive marketing campaign.

Result

The upgrade and re-brand enabled Owner to capture a 150,000 sf tenant, drive occupancy to ~100% and sell the project to REIT.